Brazil in turmoil

Brazil’s political situation was plunged into turmoil after legislators voted to start impeachment proceedings against President Dilma Rousseff on April 17. The process now moves to the Senate which must decide whether to put the president on trial. Opponents of Ms. Rousseff (many of whom blame her for the country’s current misfortunes) welcomed the result, but the president and her supporters view the impeachment as a coup. Given the deterioration in the political climate, prospects of an economic recovery this year appear remote. Our panellists are predicting that Brazil will endure another year of negative growth as real GDP is set to shrink.

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